Trade Minister Cheong In-kyo (The Ministry of Trade, Industry and Energy)
The trade ministry hosted a roundtable with South Korean businesses operating in Vietnam on Monday to discuss strategies for addressing potential changes in US trade policies under the incoming administration.
The meeting, held in Seoul, came amid potential shifts under the second Donald Trump administration, including the implementation of blanket tariffs on all imports, which are expected to impact South Korean firms operating overseas as well, according to the Ministry of Trade, Industry and Energy.
"The government plans to utilize communication channels with Vietnam, including the joint committee on the bilateral free trade agreement scheduled for next month, to minimize uncertainties for South Korean firms operating in Vietnam," Trade Minister Cheong In-kyo said in a statement.
South Korea will continue to closely monitor the global trade environment and maintain active communication with industries to proactively address potential changes, the ministry added.
Vietnam is South Korea's third-largest trading partner, with 9,000 South Korean companies currently operating in the Southeast Asian nation in industries including electronics, semiconductors, and textiles. (Yonhap)
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